Ethereum Mining pool for noobs! noobpool.com

I setup a mining pool for new miners. It's focused on the more casual miners, people with lower hash rates (but others are welcome), simple instructions to be up and mining in minutes. It's built using the open ethereum pool source, and still looks a bit generic as I haven't spent much time to customize it yet.

The pool is setup on a dedicated, hosted server, 1gig network, 8 core super fast system. Payout is set at 0.05 and set to run payouts every 10 minutes.

Comments

The pool has been slow to get going, I guess people see a pool with a low hash rate they move on to higher hash rate pools. The difference is you will see your profits faster with a bigger pool, but the amount you make in the long run can be less. Less competition on smaller pools for rewards when a block is found. Also our payout is lower than most of the bigger pools. So you don't have to make as much to actually get it sent to your wallet. Only .05 eth.

If you're putting out 100MH/s in a big pool vs guys putting out 100HG/s who do you think will have the best chance to find the block and get the bonus reward? With noobpool.com people with lower hash rates are on a more level playing field. But who cares about a 5 eth reward, that's only like $1500 USD.

Any suggestions how to get more people to join my mining pool? Maybe I should rent from nicehash to increase the pool's hash rate so others will join? I'm already paying a ton for the dedicated server that it runs on, and renting hash power is a bit expensive for enough to bring the pool up to looking more attractive to others.

I've considered switching to ETC, but I believe ETH is going to have a much better profit in the long run. And I understand why people hesitate to join my pool. They have seen other new pools pop up and vanish soon after and the larger pools seem more stable. I assure you, this pool isn't going anywhere. I rented a dedicated server and paid for 2 years. It's been very fast and very stable. Once a few people join and the hash rate goes up, it should snowball from there. Hopefully.

That's great, can use the extra hash power. I've been searching for some GPU's at a decent price so I can get a better rig up and running myself, but as we all know, they are hard to come by these days.

I'm semi interested in joining, and if I do I would probably bring a few friends with totalling near 1gh. Wondering what the benefit would be? You have the same 1% fee as Nanopool, and I've experienced very solid consistent payouts so far.

The difference is nanopool has 6100 GH/s and around 29000 miners. When a block is found, the chance you will be the one to find it and get the 5 eth reward is pretty slim. They find blocks constantly and so you will see your eth go up on a steady basis whereas a smaller pool you don't find blocks as fast and only see your eth amount go up when one is mined. You still make the same amount however, except for the much higher chance of getting the reward.

Well the reward can't be the full 5 eth, unless I'm not understanding. A whole block is 5 eth, hypothetically, let's say your pool has 15 miners. How much of a bonus does the miner who finds the block get compared to the rest of the share payouts?

That depends on how much each miner is contributing to the block and of course there is some luck involved. So it would be hard to calculate. It's not as simple as 15/5. And since my pool is new and no blocks have been found yet, it's hard to say exactly.

Fair enough. I need to do some more research, but from what I've read and other people's experience, payouts over time should roughly equal out, just less consistent payouts on the smaller pools. I'll definitely be keeping an eye on your pool though.

True, the smaller the pool the slower the payouts come as it doesn't update your eth earned until a block is mined, however the payout threshold is low at 0.05 so most people will get a payout as soon as a block is mined, and it's checked every 10 minutes to see if anyone needs to be paid.

Good luck with whatever you decide. I'm going to keep plugging along and my slow speed and hopefully get a few more GPU's setup into my rig this month.

I'm only familiar with Claymore, but your site says I have to use ethminer. I click on the link and it says, "THIS RELEASE WILL NOT BE ABLE TO SYNC WITH THE LATEST NETWORK" right there in the description. What's that about?

Kudos for attempting to set up a new pool. Just my own personal observation... Setting your pool fee at 1% on par with more established pools is not a great incentive to get miners to give your pool a try. Many new pools incentivise miners by offering 0% or low pool fees during their start-up period. Plus the fact that miners may have to wait quite a long period before a block is found is not going to sit well with them when they can be getting steady earnings from another pool for that same period of time. Unless you can devise a reward system whereby loyal miners who are willing to stick it out to wait for the block gets some rewards, its not going to be an easy task to get more miners on board. Just my 2cts worth..

I did go with a lower min payout threshold than most, so even smaller rigs will get payment quicker. But I can lower the pool fee if you think that will make a difference. Maybe a 0.25% for a while until it's more established?

I also need to re-do the whole website part to make it stand out and look less generic, but it's done through api and .hbs files which are a lot different than the html that most of us are used to using. And of course my home computer is windows 10 and there doesn't seem to be any editors for that type of file to make it any easier. So text editing on a remote desktop kinda sucks.

Okay I've got Calymore up and running with my 6 GPU mining rig. It actually went up 5MH/s after switching to noobpool.com(160MH/s) instead of nanopool.com(155MH/s). I found 10 shares in the first minute!

I've also got my PC mining with 1 GPU too, but I take it offline sometimes when I want to play a game.

I notice at noobpool.com it shows an increase in the number of miners, but the pool hashrate doesn't reflect accurately. I wonder why? Maybe it takes time to reflect as it's only been 5 minutes since I got it started. *The pool hashrate is going up now.

*Also, is there a miner that doesn't take out for dev fee? Claymore has a 1% dev fee no matter which pool I'm using.

@MrN1ce9uy You can remove the dev fee on Claymore I believe, but it will slow your hash rate by 4%, so it's better to just let the dev have his 1%. The pool has really jumped up in hash rate over the last 2 days. We were looking at over 200 days to find a block, now it's less than 30 and with the higher rate we should get more people to join in and lower the number of days even further. Would be nice to get it down to around 1 block every day or two.

Until we get a steady and stable amount of miners and we start mining some blocks, I've decided to remove the pool fee. Later on, once people feel secure with the pool I'll raise it back to .25% to help cover the cost of running the pool. But that won't be for a while, so for the next month or two, enjoy the no-fee mining.

Like you've already done, I would suggest an introductory fee. Maybe offer to grandfather that in for those people who join before a certain date. One other feature I would like to see and I don't know if this is possible with the code you are using: the person who actually mines the block gets 1 ETH and the balance is distributed amongst all contributors. That would be kind of a hybrid for folks who want to be rewarded more for being the actual finder, not just an even share of everything. It's kind of a jackpot mentality for some people. If I was going to set up a pool, I would do something along those lines.

That's a good idea for a reward system, i'll have to look into it and see if it can be coded in. It doesn't sound like it should be too hard to do. However I'm leaving on vacation tomorrow for 4-5 days, so I won't get a chance to work on that until I get back.

As far as grandfathering a rate for people who join during the 0% fee time, that will be a little more complicated as there is no registration. I guess I can use the wallet address as the user account. Something else to look into when I get back.

Cool, great plug. I am new to this as well (1 day in). I'm at your website and there's only 5 miners online right now. I am still making sure my rig is stable, and properly mining. I think I will wait until I get a good sense of my rig's ability then try out noobpool. I don't want to freak myself out too quickly.